Savers with less than €100,000 in a bank being closed down should get all their money back. Photograph: Alamy

Depositors with less than €100,000 in a bank that is being closed down will get all their money back, EU finance ministers agreed on Tuesday, and most supported the idea that bigger depositors would get privileged status.

"There was general agreement that deposits below €100,000 in any resolution will be sacrosanct," Irish finance minister Michael Noonan, who chaired the talks, told a news conference.

The ministers were discussing rules for closing down banks and the hierarchy of losses imposed on the banks' owners and creditors in such an event.

It followed an abortive plan in March for the bailout of Cyprus that would have imposed a levy of 6.7% on bank savings below €100,000. The final deal protected savings below €100,000 but took up to 60% of deposits over that.

EU internal market commissioner Michel Barnier said that most ministers supported the view that large depositors above €100,000 should enjoy a privileged status, and be the last to lose any funds, after senior bondholders.